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Symposium 2010

Solution for Towards a Global Electricity Market

The Challenge

In principle, solar and wind are more than enough to deliver any amount of energy that the world’s population might need. But these sources are usually best exploited in areas that are far from ce ...

In principle, solar and wind are more than enough to deliver any amount of energy that the world’s population might need. But these sources are usually best exploited in areas that are far from centers of demand. It is technologically challenging to transport electricity over large distances and even more to store it. As a consequence, electricity markets have tended to develop as regional markets.

Achieve a legally binding climate treaty quickly.

The fundamental challenge of any future energy system is the need to force down greenhouse gas emissions caused by energy production to zero as quickly as possible. A significant reduction of the carbon footprint in the medium term is pivotal to avoiding the hazardous risks of climate change, and short-term action is needed to change the electricity generation mix in the medium term.

Without a rapid and comprehensive internalization of the cost of carbon, there is a risk of a “lock-in effect” due to the long planning periods and life spans (up to 40–50 years) of power plants. Renewable capacity would be irreversibly excluded from the electricity generation mix if construction of fossil fuel power plants is continued over the next decade. An effective climate treaty, which binds all major energy producing countries in the world, is the only effective way to provide the decisive cost advantage for renewable electricity sources on a broad scale.

    Related Solutions

    Solution
    Symposium 2010

    Implement smart grid technology by empowering energy supply, distribution and consumption with two-way information and communication technologies.

    Implement smart grid technology by empowering energy supply, distribution and consumption with two-way information and communication technologies.

    Implement smart grid technology by empowering energy supply, distribution and consumption with two-way information and communication technologies.

    Polity, Business
    Solution
    Symposium 2010

    Governments must cut subsidies for fossil-fuel-based electricity generation, especially in emerging demand centers.

    Governments must cut subsidies for fossil-fuel-based electricity generation, especially in emerging demand centers.

    Governments must cut subsidies for fossil-fuel-based electricity generation, especially in emerging demand centers.

    Polity
    Solution
    Symposium 2010

    Integrate electricity grids supranationally.

    Integrate electricity grids supranationally.

    Integrate electricity grids supranationally.

    Polity, Business
    Solution
    Symposium 2010

    Create a supranational grid regulator for the envisaged supranational markets.

    Create a supranational grid regulator for the envisaged supranational markets.

    Create a supranational grid regulator for the envisaged supranational markets.

    Polity
    Solution
    Symposium 2010

    Attract institutional investors to finance grid development.

    Attract institutional investors to finance grid development.

    Attract institutional investors to finance grid development.

    Business
    Solution
    Symposium 2010

    Implement off-grid electricity generation devices in underdeveloped areas without access to electricity grids.

    Implement off-grid electricity generation devices in underdeveloped areas without access to electricity grids.

    Implement off-grid electricity generation devices in underdeveloped areas without access to electricity grids.

    Polity, Business